The recent K-line shows a clear upward trend, especially the strong bullish candles on October 29 and 30, indicating robust buying power.
On the daily level, a series of higher highs have formed, suggesting that the market is in a bullish dominant state.
From a technical perspective, the MACD on the 4-hour cycle continues to operate above the zero line, and both DIF and DEA are diverging upwards, indicating strong bullish momentum. The RSI is approaching the overbought zone but has not yet entered extreme territory, suggesting that there may be a demand for a pullback in the short term, but overall remains bullish.
In terms of the overall trend, the price is above EMA7, EMA30, and EMA120, with all moving averages showing a bullish arrangement, further confirming the current upward trend. On October 29, trading volume significantly increased, accompanied by a price breakthrough of the previous high, indicating active capital entry. Subsequently, trading volume weakened, but the price still maintained a high level, showing optimistic market sentiment and strong bullish confidence.
For the day, it is recommended to buy on a pullback to 71500 to 71300.